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NSW new estate menangle nsw 35000 homes

Discussion in 'Where to Buy' started by Brian84, 22nd Sep, 2015.

  1. Brian84

    Brian84 Well-Known Member

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    Hi everyone,

    I seen on 7 news tonight about the new development in menangle nsw that is kicking off in 2017. There is proposed 35000 new homes in the estate from menangle to Wilton.

    Do you think it would be worth buying some land once it comes into the market?

    Do you think the rental return will decrease because there will be more homes up for rent?

    Would love to hear opinions from anyone.
     
  2. BurnettGroup

    BurnettGroup Well-Known Member

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    Why wait till then, do a deal with an existing land owner now.
     
  3. sonic98

    sonic98 Member

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    This is so far away from anything, genuinely interested in why anyone would want to live out there? Compared to somewhere up or down the coast where there's at least many redeeming lifestyle factors.
     
  4. Brian84

    Brian84 Well-Known Member

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    That's what I was thinking. 35000 homes will need a lot of jobs. And there isn't much around.
     
  5. Brian84

    Brian84 Well-Known Member

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    They would want a premium now. What if the and prices go down within 2 years. It sounds like it could be an over supply for that area unless they can bring more jobs to the area.
     
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  6. BurnettGroup

    BurnettGroup Well-Known Member

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    I dare say, some would want a premium, but I'm not referring to an outright purchase though from an existing landholder. I'm also guessing this development will be an SSS with local govt backing. It does need more investigation, you don't just announce your going to build 35,000 homes unless you have employment or a business park or two in the pipeline.
     
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  7. BurnettGroup

    BurnettGroup Well-Known Member

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    Review copies of the exhibition documents
    You can see the public exhibition documents at:

    Department of Planning and Environment Information Centre
    23-33 Bridge Street, Sydney NSW 2000

    Department of Planning and Environment (Parramatta Office)
    Level 5, 10 Valentine Avenue, Parramatta NSW 2150

    Campbelltown City Council
    91 Queen Street, Campbelltown

    HJ Daley Library
    1 Hurley Street, Campbelltown

    Wollondilly Shire Council
    Frank McKay Building, 62-64 Menangle Street, Picton NSW 2571
     
  8. BurnettGroup

    BurnettGroup Well-Known Member

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  9. York

    York Finance Broker Business Member

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    Yes the menangle development. Heard about this one a while back....there is a commercial heritage building across the road of the development. Any commercial investors interested take note. It is directly across the road. Can't remember the block size but I think 1800sqm aprox. Double story heritage building. 3 or 4 shops below and couple units above I think. By the way I'm pretty sure it's 3,500 houses not 35,000.
    Edit - DOP confirms 33,000 houses. I was only aware specifically of one particular development site by the same developer for 3,500 houses. Seems it was bigger than I originally thought.
     
  10. BurnettGroup

    BurnettGroup Well-Known Member

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    Just had a quick squizz, at their site, they have it as 35,000 homes to be built.
     
  11. York

    York Finance Broker Business Member

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    Yep...I edited my post. I only knew of a specific development which was for 3500.
     
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  12. BurnettGroup

    BurnettGroup Well-Known Member

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    I had the same thoughts initially, had to do a bit of "double" checking, seems there's going to be a fair bit of building going on.

    http://mcssa.com.au/land-developments-sydney/
     
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  13. Brian84

    Brian84 Well-Known Member

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    I can understand if it was only 3500 homes, then the employment wouldn't be so much of a factor but 35000 homes is going to need a lot more jobs in the area.
     
  14. BurnettGroup

    BurnettGroup Well-Known Member

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    Your quite correct, but you have to consider, that a development of this size will take around 20 - 30 years to complete to final stage. Judging by some of the press releases, there is more than one stage of development "ready to sprout", ie; 2000 homes, 3500 homes, 7000 homes etc, maybe all not at the same time. You could also expect the major suppliers to move in and setup shop first, that would give employment, like Bunnings, Boral, Hanson Concrete etc. Then you have your project home builders and their sponsors and suppliers. So it's a flow on effect.
     
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  15. York

    York Finance Broker Business Member

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    Correct. The master plan shows decent size industrial sites and I'd assume commercial too to accommodate the popululation growth. As you said it's gradual and will take many years just like the airport which isn't too far away..
     
  16. Brian84

    Brian84 Well-Known Member

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    So if that's the case then it might be worth buying some land or buy a house and land package because no doubt it will probably go crazy like all the other new estates in Sydney. There aren't many estates in Sydney that dont sell out and the last stage finish cheaper than the first stage.

    Definitely something to look into I think.
     
  17. BurnettGroup

    BurnettGroup Well-Known Member

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    It could be worth looking into, but I would seriously go over all the documentation that is in the public domain at the moment, and anything else that is due to be released. At this stage it maybe an idea to sign up at their website for updates etc. Perhaps read the parts that (you think) will apply to you, 3 - 4 times, so you fully understand it. (big task - but at least you'll be somewhat prepared, I've had worse than this). This project is not going to kick off straight away, as you know, so you have some time up your sleeve.
     
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  18. BurnettGroup

    BurnettGroup Well-Known Member

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    I'd forgotten all about the Airport.
     
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  19. THX

    THX Well-Known Member

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    It's a fair bit beyond the current Sydney fringe (Camden/Campbelltown), I would be looking at the southwest growth centre around Narellan to Leppington if you're interested. Mind you the new airport is 25kms or so away from Menangle.
     
  20. Brian84

    Brian84 Well-Known Member

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    I was only interested in the menangle development because they said that it would be more affordable than the other estates. Most of the other estates around are sold out I think, and also over priced imo.